Coca Cola Inaugurates $100m Bottling Plant


Coca Cola Inaugurates $100m Bottling Plant

The bottler of Coca-Cola beverages inaugurated its fifth plant in Ethiopia at a cost of 100 million dollars. With its new facility located  in Sebeta town, 25Km west of Addis Abeba, Coca-Cola plans to boost its production and introduce new products. The new factory, which is the fifth plant for the company, have the capacity to produce up to 70,000 cases of soft drinks a day. The construction plant began in 2019, following the announcement of a 300 million dollars investment by the company over five years period to expand its operation in Ethiopia. The company also plans to build a sixth plant in Hawassa, 278Km south of the capital.


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Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


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Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


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